French land measure of area used in parts of the South, approximately .84625 acre.

(1) Payment made after it is due is in arrears. (2) Interest is said to be paid in arrears since it is paid to the date of payment rather than in advance, as is rent. Example: A rental payment made July 1 pays the rent to August 1. An interest payment made July 1 pays the interest to July 1.

Any major highway or thoroughfare.

A well bored into a subterranean body of water, which, being under pressure, rises naturally to the surface without artificial pumping.

Documentation filed with the state which sets forth general information about a corporation. More specific rules of the corporation would be contained in the by-laws.

A drawing of a proposed real estate project. Not necessarily to scale and generally used to promote the sale of vacant land or the leasing of proposed buildings.

Premises accepted by a buyer or tenant in the condition existing at the time of the sale or lease, including all physical defects.

A fire and heat resistant material used in insulation, roofing, etc.

An environmental term referring to any material containing more than one percent asbestos.

A stone which is cut in squares and used both as a facing for masonry walls, and in foundations.

The price at which the seller is offering property for sale. The eventual selling price may be less after negotiation with a buyer.

A position or direction. Exposure.

The acquisition of contiguous properties into one ownership for a specific use.

The cost above the value of individual properties because of assemblage rather than periodic individual sales.

To fix a value; to appraise. Most commonly used in connection with taxes.

Value place upon property for property tax purposes by the tax assessor.

(1) The estimating of value of property for tax purposes. (2) A levy against property in addition to general taxes. Usually for improvements such as streets, sewers, etc.

The total assessed value of all property in a given assessment (tax) district.

An area, the boundaries of which are set for tax assessment purposes only; these boundaries may cross city boundaries.

Taxable period. The period during which the tax assessment must be completed.

The assessed value of a property expressed as a fraction in comparison to market value.